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Fast Company: Can Entrepreneurship Revive the Troubled PhD?

In the heart of Manhattan, in a set of conference rooms on loan from Google, one radical experiment in postdoc entrepreneurship is now entering its fourth year. Called "Runway" and managed by Cornell Tech’s Jacobs Technion-Cornell Institute, the program bills itself as "part business school, part research institution, part startup incubator." Since its founding, Runway postdocs have founded 13 companies, from an intelligent baby monitor to an urban planning analytics platform, and collectively raised $15 million in funding.

"Our mission is to help commercialize research," says Shuli Schwartz, who co-manages Runway while serving as entrepreneur-in-residence at the Jacobs Technion-Cornell Institute. "There is a gap between research results and taking them into the commercial space."